A perfect example of a leading diagonal. This type of pattern is formed in the current conditions of the market when the buyers still do not have a great confidence, thus forming wave 1 of a higher degree in the Elliott Wave structure. I will present the Fibonacci relations from such a pattern: Wave 2 corrects in the area 0.768 of the Fibonacci retracement of wave 1; Wave 3 rises to the area of the Fibonacci projection 0.768 of waves 1 and 2; Wave 4 corrects in the area 0.768 of the Fibonacci retracement of wave 3; Wave 5 could rise in the area of the Fibonacci projection 0.768 of waves 3 and 4; (Sometimes wave 5 can be truncated and shorter than the area where wave 3 ended). So you can trade a long position up to the Fibonacci projection area of 0.768 of waves 3 and 4. After that you can also play short on the correction of wave 2 of higher degree. Success! Like and subscribe if you like my analysis! Also I will kepp do updates on the waves/usd because I like to trade it!
Comment
⋅
Comment
⋅
Zizag with wave B triangle for 5th wave from the leading diagonal
Comment
⋅
Update for triangle wa1t to breakout the bd trend resistance line
Comment
⋅
and I think it will be a truncated 5th wave ending in the middle of the channel
Comment
⋅
No triangle an wave 1 from C wave leading diagonal now a 2nd wave a flat, maybe running flat
Comment
⋅
Take care also this may be a running triangle 4th wave.
Comment
⋅
What is the right way of this chopyy market? We will see soon...